Office

The headwinds in the aftermath of the pandemic were still evident as vacancy increased to 10.1%, up 310 bp year over year while the region experienced 1M SF of negative absorption. Despite the lingering effects of the pandemic, the potential for growth on the horizon appears to be improving, thanks in large part to the continued appetite for office space from local tech giants. Direct asking rents remained unchanged at $58.44 for full service class A office in the Seattle CBD and $61.40 for the Bellevue CBD.Read More